{"id":25824,"date":"2026-02-21T02:31:03","date_gmt":"2026-02-21T02:31:03","guid":{"rendered":"https:\/\/finderica.com\/?p=25824"},"modified":"2026-02-21T02:31:03","modified_gmt":"2026-02-21T02:31:03","slug":"westpac-macquarie-pass-on-home-loan-rate-increases","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=25824","title":{"rendered":"Westpac, Macquarie pass on home loan rate increases"},"content":{"rendered":"
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Westpac and Macquarie are the last of the big five to pass on February’s cash rate hike to their variable home loan rates, joining a flood of lenders lifting rates this week.<\/p>\n<\/div>\n

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More than 30 lenders increased their home loan rates this week, the vast majority passing on February’s 25-basis point cash rate increase to their variable rates.<\/p>\n

Westpac <\/strong>effected the hike on Thursday and Macquarie Bank<\/strong> on Friday, making them the last of the big bank lenders to lift their variable-rate home loans after the Reserve Bank’s cash rate call on 3 February.<\/p>\n

Westpac’s best advertised variable rate is now a discounted 5.49% p.a. (5.50% p.a. comparison rate* ) for its Flexi First Option basic home loan – taken out online – for borrowers with loan-to-value ratios (LVRs) up to 70%.<\/p>\n

Westpac hikes mortgage interest rates<\/h2>\n

Here’s a look at some of Westpac’s variable rates for owner occupiers making principal and interest (P&I) repayments after the 0.25% hike:<\/p>\n\n\n\n\n\n\n\n\n\n
Product<\/strong><\/td>\nLVR<\/strong><\/td>\nNew rate\u00a0<\/strong><\/td>\nComparison rate*<\/strong><\/td>\n<\/tr>\n
Flexi First Option\u00a0<\/td>\n\u226470%<\/td>\n\n

5.94% p.a.<\/p>\n

5.49% p.a. (online rate)<\/p>\n<\/td>\n

\n

5.95% p.a.<\/p>\n

5.50% p.a.<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n70-80%\u00a0<\/td>\n\n

6.04% p.a.<\/p>\n

5.59% p.a. (online rate)<\/p>\n<\/td>\n

\n

6.05% p.a.<\/p>\n

5.60% p.a.<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n>80%<\/td>\n\n

6.34% p.a.<\/p>\n<\/td>\n

6.35% p.a.<\/td>\n<\/tr>\n
Rocket Repay\u00a0<\/td>\n\u226470%<\/td>\n\n

8.23% p.a.<\/p>\n

5.89% p.a. (with package^)<\/p>\n<\/td>\n

\n

8.36% p.a.<\/p>\n

6.27% p.a.<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n70-80%\u00a0<\/td>\n\n

8.33% p.a.<\/p>\n

5.99% p.a. (with package)<\/p>\n<\/td>\n

\n

8.46% p.a.<\/p>\n

6.36% p.a.<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n>80%<\/td>\n\n

8.65% p.a.<\/p>\n

6.29% p.a. (with package)<\/p>\n<\/td>\n

\n

8.76% p.a.<\/p>\n

6.66% p.a.\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Westpac’s new investor rates<\/strong><\/h3>\n

And here are new investor rates for both P&I and IO repayments:<\/p>\n\n\n\n\n\n\n\n\n\n
Product<\/strong><\/td>\nLVR<\/strong><\/td>\n\n

New rate<\/strong><\/p>\n

P&I\u00a0<\/strong><\/p>\n<\/td>\n

Comparison rate*<\/strong><\/td>\n\n

New rate<\/strong><\/p>\n

IO<\/strong><\/p>\n<\/td>\n

\n

Comparison rate*<\/strong><\/p>\n<\/td>\n<\/tr>\n

Flexi First Option\u00a0<\/td>\n\u226470%<\/td>\n\n

6.24% p.a.<\/p>\n

5.64% p.a. (online rate)<\/p>\n<\/td>\n

\n

6.25% p.a.<\/p>\n

5.65% p.a.<\/p>\n<\/td>\n

\n

6.74% p.a.<\/p>\n

5.89% p.a. (online offer)<\/p>\n<\/td>\n

\n

6.67% p.a.<\/p>\n

5.73% p.a.<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n70-80%\u00a0<\/td>\n\n

6.34% p.a.<\/p>\n

5.74% p.a. (online rate)<\/p>\n<\/td>\n

\n

6.35% p.a.<\/p>\n

5.75% p.a.<\/p>\n<\/td>\n

\n

6.84% p.a.<\/p>\n

5.99% p.a. (online offer)<\/p>\n<\/td>\n

\n

6.77% p.a.<\/p>\n

5.83% p.a.<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n>80%<\/td>\n\n

6.64% p.a.<\/p>\n<\/td>\n

6.64% p.a.<\/td>\n7.14% p.a.<\/td>\n7.07% p.a.<\/td>\n<\/tr>\n
Rocket Repay\u00a0<\/td>\n\u226470%<\/td>\n\n

8.78% p.a.<\/p>\n

6.09% p.a. (with package^)<\/p>\n<\/td>\n

\n

8.91% p.a.<\/p>\n

6.46% p.a.<\/p>\n<\/td>\n

\n

9.04% p.a.<\/p>\n

9.35% p.a.(with package)<\/p>\n<\/td>\n

\n

9.09% p.a.<\/p>\n

6.59% p.a.<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n70-80%\u00a0<\/td>\n\n

8.88% p.a.<\/p>\n

6.19% p.a. (with package)<\/p>\n<\/td>\n

\n

9.01% p.a.<\/p>\n

6.56% p.a.<\/p>\n<\/td>\n

\n

9.14% p.a.<\/p>\n

6.45% p.a.(with package)<\/p>\n<\/td>\n

\n

9.19% p.a.<\/p>\n

6.69% p.a.<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n>80%<\/td>\n\n

9.18% p.a.<\/p>\n

6.49% p.a. (with package)<\/p>\n<\/td>\n

\n

9.31% p.a.<\/p>\n

6.86% p.a.\u00a0<\/p>\n<\/td>\n

\n

9.44% p.a.<\/p>\n

6.75% p.a. (with package)<\/p>\n<\/td>\n

\n

9.49% p.a.<\/p>\n

6.99% p.a.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

^ Westpac’s<\/em> Premier Advantage Package offers interest rate discount and savings on other products for $395 annual package fee.<\/em><\/p>\n

Macquarie’s RBA rate hike kicks in<\/h2>\n

Macquarie Bank makes a point of being slower to pass on its home loan rate increases than its big bank counterparts.<\/p>\n

Its best new variable rate is 5.59% p.a. (5.61% p.a. comparison rate*) for a basic owner occupier home loan for borrowers with LVRs 70% or less.\u00a0<\/p>\n

Here’s a look at Macquarie Bank’s new variable interest rate schedule after the 0.25% increase for owner occupiers making P&I repayments:<\/p>\n\n\n\n\n\n\n\n\n
LVR<\/strong><\/td>\nInterest rate (basic)<\/strong><\/td>\nComparison rate*<\/strong><\/td>\nInterest rate (with offset)<\/strong><\/td>\nComparison rate*<\/strong><\/td>\n<\/tr>\n
\u2264 60%<\/b><\/td>\n5.59% p.a.<\/td>\n5.61% p.a.<\/td>\n5.59% p.a.<\/td>\n5.84% p.a.<\/td>\n<\/tr>\n
\u2264 70%<\/b><\/td>\n5.59% p.a.<\/td>\n6.61% p.a.<\/td>\n5.59% p.a.<\/td>\n5.84% p.a.<\/td>\n<\/tr>\n
\u2264 80%<\/b><\/td>\n5.64% p.a.<\/td>\n5.66% p.a.<\/td>\n5.64% p.a.<\/td>\n5.89% p.a.<\/td>\n<\/tr>\n
\u2264 90%<\/b><\/td>\n5.84% p.a.<\/td>\n5.86% p.a.<\/td>\n5.84% p.a.<\/td>\n6.09% p.a.<\/td>\n<\/tr>\n
\u2264 95%<\/b><\/td>\n6.64% p.a.<\/td>\n6.67% p.a.<\/td>\n6.64% p.a.<\/td>\n6.89% p.a.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Macquarie’s new investor rates<\/strong><\/h3>\n

The rates below are for investors making P&I repayments:<\/p>\n\n\n\n\n\n\n\n
LVR<\/strong><\/td>\nInterest rate (basic)<\/strong><\/td>\nComparison rate*<\/strong><\/td>\nInterest rate (with offset)<\/strong><\/td>\nComparison rate*<\/strong><\/td>\n<\/tr>\n
\u2264 60%<\/b><\/td>\n5.69% p.a.<\/td>\n5.71% p.a.<\/td>\n5.69% p.a.<\/td>\n5.94% p.a.<\/td>\n<\/tr>\n
\u2264 70%<\/b><\/td>\n5.74% p.a.<\/td>\n5.76% p.a.<\/td>\n5.74% p.a.<\/td>\n5.99% p.a.<\/td>\n<\/tr>\n
\u2264 80%<\/b><\/td>\n5.79% p.a.<\/td>\n5.81% p.a.<\/td>\n5.79% p.a.<\/td>\n6.04% p.a.<\/td>\n<\/tr>\n
\u2264 90%<\/b><\/td>\n6.65% p.a.<\/td>\n6.68% p.a.<\/td>\n6.65% p.a.<\/td>\n6.90% p.a.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

And here are Macquarie’s interest-only (IO) variable rates for investors:<\/p>\n\n\n\n\n\n\n
LVR<\/strong><\/td>\nInterest rate (basic)<\/strong><\/td>\nComparison rate*<\/strong><\/td>\nInterest rate (with offset)<\/strong><\/td>\nComparison rate*<\/strong><\/td>\n<\/tr>\n
\u2264 60%<\/b><\/td>\n5.90% p.a.<\/td>\n5.92% p.a.<\/td>\n5.90% p.a.<\/td>\n6.15% p.a.<\/td>\n<\/tr>\n
\u2264 70%<\/b><\/td>\n5.94% p.a.<\/td>\n5.96% p.a.<\/td>\n5.94% p.a.<\/td>\n6.19% p.a.<\/td>\n<\/tr>\n
\u2264 80%<\/b><\/td>\n6.04% p.a.<\/td>\n6.06% p.a.<\/td>\n6.04% p.a.<\/td>\n6.29% p.a.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Other lenders lifting variable rates by 0.25% this week<\/h2>\n

Here’s a snapshot of other lenders passing on the 25-basis point cash rate increase to their variable rates this week. (New rates are available via the links below).<\/p>\n

AMP Bank makes further increases<\/h2>\n

AMP Bank passed on the 25-basis point cash rate hike to its variable rate home loans on 9 February and this week made further rate increases to some of its Professional Package products.<\/p>\n

Most rates were adjusted by five basis points, although Professional Package Investor loans for 90% LVRs saw a 20-basis point increase, taking their rates above the 6% benchmark.<\/p>\n

Professional Package Line of Credit products for investors also saw a five-basis point rate increase.<\/p>\n

Other rate increases<\/h2>\n

While some of the lenders below were among those to pass on the 25-basis point cash rate increase this week, they also made other rate adjustments, as follows:<\/p>\n